The Ten Worst Insurance Companies in America. The title of this article certainly caught my eye and it is well worth the read. It is no secret - I don't like insurance companies. I think insurance companies bully people and take advantage of those who are in a weak part of their lives. I spend a lot of time in my practice trying to explain to clients - former, current, and potential - that the insurance companies are not there to help. The insurance companies are in the business of making money. Don't be fooled by the commercials telling you they will help you with your claim, they will protect you, they will help you get your life back in order. Now, there are definitely some solid, reputable insurance adjusters out there and I have had the pleasure of working with them. But for the most part, even the "nice" adjusters are under strict guidelines to protect the bottom line or risk losing their job.
This article, which is posted by the American Association for Justice, explains that insurance companies are notorious for: (1) raising premiums; (2) denying claims; and (3) outright refusing insurance to people who need it. The article also address the question on everyone's minds - which insurance companies are the worst of the worst? Which insurance companies claim to protect car accident victims or those insured on dangerous properties but then refuse to pay? Which insurance companies claim to protect you if you injure someone in a car crash or if someone is injured on your property? Which health insurance companies aim to obtain your business (and your money) but then when you need their help and need payment for a claim, they tell you that your claim is denied because the treatment is "experimental", or not "medically necessary" or not covered for another reason - and they do so even though the adjusters are not doctors, not nurses, and have no medical training?
Who is the worst of the worst? Allstate, followed closely by Unum, AIG and State Farm. What is Allstate's professed goal? According to its CEO, the mission of Allstate is "to earn a return for our shareholders". What does that have to do with you and your family? If Allstate is willing to openly admit to the public that their mission has absolutely nothing to do with protecting their insureds and those injured by their insureds, why support them?
Over the past 10 years, insurance companies (those handling property and injury/casualty claims) have enjoyed profits of over $30 BILLION a year. These stats are offensive in light of the fact that injured individuals and families who have lost loved ones due to the negligence of another continue to struggle to make ends meet.
Profits over policyholders. Profits over people. It isn't right. Don't support these insurance companies.
Lindasy Rakers is a Missouri and Illinois injury attorney. You can follow her on Facebook here.
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